Many Corporate Real Estate (CRE) professionals manage a large portfolio of office space – from big headquarter hubs to small branch offices. Each with different requirements. Often geographically dispersed.
The most common areas of friction that Regus’ CRE clients face are:
- Frequently changing business needs
- Inability to accurately forecast headcount and workstation requirements
- Inadequate notice for securing new space
- Inflexibility of the portfolio to change dynamically as needed
The real estate department is frequently the last to know where the business strategy is headed. The process year after year has remained problematic. Even with the most comprehensive due diligence, what seemed to be a solid forecast shifts, as market demands change and business strategy adapts. And with each subsequent year, the forecast accuracy further diminishes and the real estate strategy degrades.
Nowhere is this a more challenging – and neglected – component of the strategy than with the small space portfolio.
Generally, CRE departments are resource constrained and spread very thin. Managing the many small space location requirements within their portfolios can be difficult and cumbersome. Organisations are locked into long term leases for their small office space. CRE professionals find themselves stuck with a portfolio of rigid, inflexible, expensive property. And they are faced with executive pressure to eliminate small space inefficiencies, whilst nimbly supporting business objectives. This can become a real estate “knot”
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